GitLab Inc. (NASDAQ:GTLB) Director Sells $193,082.50 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing sold 3,250 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.41, for a total value of $193,082.50. Following the transaction, the director now owns 137,983 shares of the company’s stock, valued at approximately $8,197,570.03. The trade was a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Karen Blasing also recently made the following trade(s):

• On Tuesday, October 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $54.72, for a total value of $177,840.00.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $60.91 on Wednesday. The stock has a market capitalization of $9.78 billion, a PE ratio of -26.03 and a beta of 0.45. The business has a fifty day moving average price of $54.63 and a two-hundred day moving average price of $51.27. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. The firm had revenue of $182.58 million during the quarter, compared to analysts’ expectations of $176.86 million. During the same period in the previous year, the firm earned ($0.29) EPS. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. On average, equities analysts expect that GitLab Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

GTLB has been the subject of a number of analyst reports. Needham & Company LLC upgraded GitLab from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, October 21st. Bank of America raised their price target on GitLab from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald upgraded GitLab to a “strong-buy” rating in a research note on Tuesday, November 12th. Morgan Stanley started coverage on GitLab in a research report on Wednesday, October 9th. They issued an “overweight” rating and a $70.00 price objective for the company. Finally, Robert W. Baird raised their price objective on GitLab from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.38.

Hedge Funds Weigh In On GitLab

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of GitLab by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after purchasing an additional 132,548 shares during the last quarter. M&T Bank Corp bought a new stake in GitLab during the 3rd quarter worth $248,000. Barclays PLC grew its position in GitLab by 189.1% during the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after acquiring an additional 40,171 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in GitLab during the 3rd quarter worth $678,000. Finally, MML Investors Services LLC bought a new stake in GitLab during the 3rd quarter worth $1,685,000. Institutional investors own 91.72% of the company’s stock.

GitLab Company Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.